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U.S. Banks See Worst Outflow Of Money In ETF Since 2009: (XLF)

TedTed
edited October 2014 in The Bullpen
FYI: The Financial Select Sector SPDR (XLF), an exchange-traded fund targeting banks and investment firms, had the biggest withdrawal last week since 2009 amid concern that low interest rates and market swings will hurt profits.

Investors pulled $913.4 million from the $17.5 billion ETF, whose top holdings include Berkshire Hathaway Inc. (BRK/B), Wells Fargo & Co. and JPMorgan Chase & Co. (JPM), a shift that turned its flow of funds negative for the year. About 143 million shares of the ETF have been borrowed and sold to speculate on declines, the most since June 2012, according to exchange data compiled by Bloomberg.
Regards,
Ted
http://www.bloomberg.com/news/print/2014-10-27/u-s-banks-see-worst-outflow-of-money-in-etf-since-2009.html

M* Snapshot Of XLF: http://etfs.morningstar.com/quote?t=XLF
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